Crowdfunding websites offer feasibility, convenience, and popularity on a global reach, thus catering to the needs and functionality of members on a large scale. Kickstarter is a crowdfunding platform that allows filmmakers, musicians, artists, designers, and anyone attempting to generate funding for a creative project to gain access to a supportive community willing to pledge money. As an artist, using a service like Kickstarter is crucial if the opportune moment presents itself with attention from fans and journalists, especially if the media attention is available to the public. To utilize a crowdfunding website such as Kickstarter when attention exists on a particular artist creates a sense of investment and community between fans and the producer of the project, thus aiding in the consumption and circulation of an artist’s project throughout the net. Therefore, this paper will argue the wide range of support and backing of fans for an artist’s work makes the benefits of involving users outweigh the disadvantages of involving users in the platform process. Users engaged in Kickstarter offer a sense of community created through fans, a donator sense of investment in the project, and if successful, a sense of reward. Whereas the disadvantages of using a Kickerstarter platform runs a risk of failure if the project does not succeed, possible disappointment and anger with fans, and potential legal issues. Kickstarter serves as an active forum, where fans not only can connect and observe what their favorite artist is currently involved in, but also fans can provide valuable feedback and express their necessity or hatred for a particular project. After the failures of the dot-com bust, a new economic and social platform emerged within Web 2.0. Internet users are thus granted the ability to contribute to a participatory culture, and now more than ever user contributions
The renowned street artist Banksy has gained a large following in the art community he himself, is an important part of. The art community gave Banksy initial ridicule and now he has been granted praise. However, Banky’s art often protests the current culture in the art community, which circles around spending large amounts of money to buy art from people who have extensive training from pricey schools. Banksy, a special case, was able to rise among top street artists like Shepard Fairey with no real training or education in art. The art community is depriving the rest of the world of ideas that could change the way everyone thinks or acts solely because an artist isn’t qualified to show their art anywhere it will be recognized. Banky’s dismay for the art world is recognized through his art and he is urging a change in the art community to be more receptive towards young artists.
A. To further my understanding of my friends business plan I would need to know the following:
For many new ventures, the entrepreneurial team is often considered one of the most important factors that determine the success of the business (Sahlman). A breakthrough idea or brilliant new market opportunity cannot be built nor sustained without a “superb entrepreneur” and the support of a “first-rate team”, which appeals to both investors outside the company and propagates a strong culture inside the organization (Bygrave). As demonstrated in the film, Startup.com, human capital not only consists of individual skills to produce an entrepreneurial idea, but it also encompasses the necessary social networks and team dynamics needed for collaborative tasks to sustain an opportunity. The documentary provides a rare and intimate look at govWorks,
Firstly, in order to determine the impact that digital technology has upon the ways in which music fandom operates today, one must consider the implications of each of the functions undertaken by such tools. As Henry Jenkins highlights, numerous consequences arise for contemporary fandom as a result of the increased speed and scope of communication provided by ‘the new digital environment’.2 Thi...
...onsider the market characteristics as not important. Hoel, unlike others mentions that a good location is also an important factor for success as it helps in hiring good professionals.
Van Buskirk, Eliot. "SoundCloud Threatens MySpace as Music Destination for Twitter Era." Wired.com. Conde Nast Digital, 6 July 2009. Web. 10 Mar. 2014. .
For this task I will be considering the sources of finance I will need for my company.
Formation of a new venture is considered as the central activity of entrepreneurial research (Aldrich, 1999; Gartner, 1985). Gartner (1985) further defined venture as a goal directed, a boundary maintaining activity system which emerge when entrepreneurs take initiative to execute the founding activities. The dynamic process of venture formation involves various activities such as forming a business plan, obtaining resources, developing products, finding financial, government, infrastructural, market research, patenting and legal support (Lebrasseur, 2003; Brush et.al, 2008a;b). Thus, the process of a venture formation has been generally also known as the sequence of activities or events performed by an entrepreneur for firm formation (Liao & Welsch, 2008). Various frameworks have been presented by researchers for exploring activities in the firm formation process. They had identified that the firm formation process is majorly descriptive and conceptual assuming it to be a unitary and linear formed with the combination of activities (Carter et al., 1996). On other side, the life cycle study of firm formation argues that the process goes from diverse phase or stages. Carter et al., (1996) had identified that activities which are executed during the process of setting up a firm have high variation in their sequence and amount of activities Moreover, the empirical studies carried by Carter et.al (1996) and Lichtenstein et.al (2006) identified that execution of more activities lead to venture survival. Carter et al. (1996) also analyzed the occurrence, series, and time frame allied with the key activities and events in firm formation process. In addition to this, Reynolds and Miller (1992) identified significant deviation in activitie...
Investment bankers are individuals who are responsible for underwriting securities of a company. I have discovered that investment bankers manage the issuance of bonds and counsel their clients on high level issues of financial organization. They also propose and complete strategies for acquiring and merging with other companies, and manage selling a company’s stock. In my opinion, this profession is very important in that, generally speaking, investment bankers are crucial figures in shaping American and world economies, along with the success of your personal business.
In recent months, there has been issues regarding the frayed business models, insecure vision of the future, and the financial instability. These matters became a worldwide dialogues when a protest at the Oscars by a group of 450 VFX artist protesting outside the Oscars.
Crowdsourcing can effectively improve productivity and creativity while lowering certain overhead costs. Utilizing the Internet to implore a reception from an active and passionate community of customers can reduce the amount of time spent collecting data through formal focus groups, while also instilling enthusiasm for future merchandise. By recruiting a body of consumers in business-related processes, executives can lower both staffing expenses and the risks that come with an uncertain marketplace demand.
Crowdfunding is the process of attaining funds through peers and others to invest in one’s project. The concept of crowdfunding is used in diverse fields like movies, music, technology, food, art, design etc. which has proven a greater success in such fields. The main participants involved in this process are project creator and backers. Project creators are those who request funds to develop the project. Backer pledges money on interested projects proposed by the project developer. Funding goal is the total amount backers fund to the project developer. The major platform for crowdfunding is Kickstarter.com. The process of crowdfunding goes as follows: The project developers provide an overview of the project and sets a deadline through a website. Next visitors visit the website and make pledges (financial transaction) which are maintained until the project deadline. If the project meets the deadline, the developer receives the money, else everything is returned back to the respective backers (Turban, Volonino & Wood, 2013).
The participatory nature of social media allows fans to converse and be critical of the content they consume;
The area of technology in today's society that is expanding without bound is the Internet. Millions of people belong to the online world full of articles, shops, the latest news, virtual communities, etc. If a person needs information or directions the fastest and most successful place to turn is online. For example the quote, "You can get anything you want with a click of a mouse," has become the motto for modern day America. Inside the virtual world are millions of groups and organizations built to interest people who share common ideas, values, and goals. The Internet groups, commonly refereed to as communities, appeal to a certain aspect of everyone's lives. Finding a community that someone feels comfortable in can be a complicated process as explained in the article "Finding One's Own in Cyberspace," by Amy Bruckman. One of the major communities that has been in the news recently is the company Napster. Napsters' focus is music and attracts an audience of music lovers. The article "The Muddy Waters of Pirate Music," by Giancarlo Varanini, discusses the details of MP3's and the influence of the music industry. By examining the two articles mentioned and evaluating the idea of "communities" many opinions arise about the effect the Internet has on music and visa versa.
I chose to read a book about entrepreneurship rather than interview an entrepreneur. The book I read is entitled The Story of Google. The book starts with a college student, Larry Page, touring Stanford University. While there, his guide was Sergey Brin. The two of them very quickly became great friends although it did not always seem as such. They would constantly have intellectual battles about anything and everything. The two of them began a project for a doctoral thesis. The plan was to download the entirety of what is on the internet and find a way to search it using links. Page decided to use a ranking system to determine the relevance of links and called it “PageRank”. In 1997, the two first launched their search engine and called it BackRub. While the initial startup for the site was only available to Stanford students and staff, it was not long before they made it to the World Wide Web. Later the same year, ideas were pitched for a name change. Sean Anderson suggested using “googol” because it represents a large number and they are indexing a large number of websites. Page and Brin at the time did not know how to spell googol and had the misspelling of “Google”. They ran quickly to see if the URL was available and it was. They registered their site as google.com. The next day Anderson sees “Google” written on the white board and writes, “It’s supposed to be g-o-o-g-o-l.” After making it on the internet, they dropped out from Stanford and continued work on Google. Page and Brin rented a garage from a friend to house operations in 1998. By 1999, they outgrew their garage office, handling more than 500,000 searches a day, and had to move to an office building in Palo Alto. The plan was to make a great search technology and...